Households in the UK could soon be paying more for groceries, experts have warned, as the economic fallout from war in Iran hits economies around the globe.
Fuel prices have already started to rise across the country as the cost of oil reaches highs not seen since 2022 following Russia’s invasion of Ukraine. An energy bill shock is also anticipated in July, when Ofgem’s price cap is forecast to rise by as much as £300, according to one consultancy.
